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Watch for Range Resources to Potentially Rebound After Falling 1.29% Yesterday

By James Quinn

Range Resources (NYSE:RRC) traded in a range yesterday that spanned from a low of $16.50 to a high of $17.00. Yesterday, the shares fell 1.3%, which took the trading range below the 3-day low of $16.67 on volume of 2.3 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

Over the past year, Range Resourceshas traded in a range of $16.50 to $46.96 and are now at $16.75. In the last five trading sessions, the 50-day moving average (MA) has climbed 4.6% while the 200-day MA has remained constant.

SmarTrend recommended that its subscribers protect gains by selling shares of Range Resources on April 25th, 2017 by issuing a Downtrend alert when the shares were trading at $26.96. Since that call, shares of Range Resources have fallen 37.2%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: rebounders range resources

Ticker(s): RRC